Air Products Takes Control of Gasification JV
US industrial gases specialist Air Products has bought the remaining 50% equity stake in a gasification technology joint venture it picked up in the 2019 acquisition of GE’s gasification business and technology. Financial terms of the arrangement with China Shenhua Coal to Liquid and Chemical Co., part of China Energy Group, were not disclosed.
Air Products said the buyout further strengthens its broader gasification technology portfolio and integrates technical and engineering resources in China, which will enable it to leverage its complete competence in the field and strengthen its position in the global market.
When acquiring the GE business, the US gases producer said the deal would extend its onsite industrial gas production model to include syngas supply and enable cross-selling opportunities for its other technologies and products.
With the buy, Air Products gained access to what it said were more than 1,000 patents relating to GE’s gasification technology, deployed at over 90 sites and representing more than 36,000 MWth (thermal megawatts) of syngas production.
The latest investment is another step to support the company’s gasification growth strategy that addresses the world’s energy and environmental challenges, said Seifi Ghasemi, chairman, president and CEO of Air Products.
Last year, Air Products announced a $2 billion coal-to-methanol project located in Indonesia. The company is also executing a number of world-scale gasification projects including the Jiutai and Debang projects in China, as well as the Jazan project in Saudi Arabia, which supplies oxygen and nitrogen to Saudi Aramco's refinery and Integrated Gasification Combined Cycle.
Author: Dede Williams, Freelance Journalist
